Lame family investors file 13D on First Internet Bancorp (INBK) and outline value focus

Rhea-AI Filing Summary

First Internet Bancorp investors John and Susan Lame have jointly filed a Schedule 13D reporting beneficial ownership of several blocks of the bank’s common stock through a family trust, individual IRAs, Roth IRAs, and personal holdings. Individual positions include 149,224 shares in the John C. Lame IRA and 137,632 shares in the John C. Lame Roth IRA, each representing 1.72% and 1.58% of the class, respectively, based on 8,686,994 shares outstanding as of December 31, 2025.

The shares were acquired with the Reporting Persons’ own funds for investment purposes, and they state a belief that First Internet Bancorp’s value exceeds its current market price. They indicate an objective to profit from share price appreciation and plan to discuss shareholder returns and strategy for creating shareholder value with management, the board, and other shareholders. They may buy additional shares or sell shares over time depending on market conditions and their investment considerations.

Insights

Banking and shareholder-activism analyst

13D shows a family investor group taking a 13D-level stake with intent to engage management.

The filing shows John and Susan Lame, through a trust and multiple IRA and Roth IRA accounts, beneficially owning several blocks of First Internet Bancorp common stock, with individual positions up to 1.72% of the company’s outstanding shares.

They acquired the stock for investment and explicitly state they believe the bank’s value is higher than the current market price. The group’s stated goal is to profit from appreciation and to discuss returns and value-creation strategy with management, the board, and other shareholders.

Because they reserve the right to buy more or sell depending on conditions, the ultimate impact depends on any future proposals or changes they might pursue. For now, this mainly signals an engaged shareholder presence rather than a defined strategic change.

Key Figures

Shares outstanding: 8,686,994 shares Trust holding: 107,878 shares John Lame IRA holding: 149,224 shares +4 more

7 metrics

Shares outstanding 8,686,994 shares Voting common stock outstanding as of December 31, 2025

Trust holding 107,878 shares John C. and Susan K. Lame Inheritance Trust; 1.24% of class

John Lame IRA holding 149,224 shares John C. Lame IRA; 1.72% of class

John Lame Roth IRA holding 137,632 shares John C. Lame Roth IRA; 1.58% of class

Susan Lame IRA holding 37,715 shares Susan K. Lame IRA; 0.43% of class

Susan Lame Roth IRA holding 92,051 shares Susan K. Lame Roth IRA; 1.06% of class

John Lame personal holding 500 shares Held directly by John C. Lame; 0.00% of class

Key Terms

Schedule 13D, beneficially owned, sole voting power, shared dispositive power, +2 more

6 terms

Schedule 13D regulatory

"If the filing person has previously filed a statement on Schedule 13G to report the acquisition..."

A Schedule 13D is a legal document that investors file with regulators when they buy a large enough stake in a company to potentially influence its management or decisions. It provides details about the investor’s intention, ownership stake, and plans, helping other investors understand who is gaining control and what their motives might be.

beneficially owned financial

"Number of Shares Beneficially Owned by Each Reporting Person With:"

Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.

sole voting power financial

"Number of Shares Beneficially Owned by Each Reporting Person With: | 7 | Sole Voting Power"

Sole voting power is the exclusive right to cast votes attached to a shareholder’s stock without needing approval from anyone else. Like holding the only remote control for a TV, it lets that holder decide corporate matters such as board members, mergers, and policy changes, making it important to investors because it concentrates control and can strongly influence a company’s strategy and the value of its shares.

shared dispositive power financial

"10 | Shared Dispositive Power 107,878.00"

ordinary course of business financial

"The Shares covered by this were acquired for investment purposes in the ordinary course of business."

The ordinary course of business means the regular, routine activities a company carries out to operate day-to-day — sales, payroll, supplier orders, customer service and similar predictable tasks. For investors, distinguishing these normal activities from unusual transactions is important because routine actions signal steady operations and predictable cash flow, while departures from the ordinary course (like one‑off deals or emergency costs) can indicate added risk or one-time impacts to earnings, much like household chores versus a sudden home renovation.

joint filing agreement regulatory

"99.1 Joint Filing Agreement among John C. Lame, John C. Lame IRA, John C. Lame Roth IRA..."

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

First Internet Bancorp

(Name of Issuer)

Common Stock, without par value

(Title of Class of Securities)

(CUSIP Number)

John C. Lame
8805 Tamiami Trail N. #128,
Naples, FL, 34108
(513) 235-6982

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

04/06/2026

(Date of Event Which Requires Filing of This Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

schemaVersion:

SCHEDULE 13D

CUSIP No.

1

Name of reporting person

John C. Lame and Susan K. Lame Inheritance Trust 5/18/2020

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

PF

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

FLORIDA

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 107,878.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 107,878.00

11

Aggregate amount beneficially owned by each reporting person

107,878.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

1.24 %

14

Type of Reporting Person (See Instructions)

OO

SCHEDULE 13D

CUSIP No.

1

Name of reporting person

John C. Lame IRA

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

PF

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

FLORIDA

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 149,224.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 149,224.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

149,224.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

1.72 %

14

Type of Reporting Person (See Instructions)

OO

SCHEDULE 13D

CUSIP No.

1

Name of reporting person

John C. Lame

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

PF

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 500.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 500.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

500.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

0.00 %

14

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13D

CUSIP No.

1

Name of reporting person

John C. Lame Roth IRA

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

PF

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

FLORIDA

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 137,632.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 137,632.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

137,632.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

1.58 %

14

Type of Reporting Person (See Instructions)

OO

SCHEDULE 13D

CUSIP No.

1

Name of reporting person

Susan K. Lame IRA

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

PF

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

FLORIDA

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 37,715.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 37,715.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

37,715.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

0.43 %

14

Type of Reporting Person (See Instructions)

OO

SCHEDULE 13D

CUSIP No.

1

Name of reporting person

Susan K. Lame Roth IRA

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

PF

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

FLORIDA

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 92,051.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 92,051.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

92,051.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

1.06 %

14

Type of Reporting Person (See Instructions)

OO

SCHEDULE 13D

Item 1.	Security and Issuer
(a)	Title of Class of Securities: Common Stock, without par value
(b)	Name of Issuer: First Internet Bancorp
(c)	Address of Issuer's Principal Executive Offices: 8701 E. 116th Street, Fishers, INDIANA , 46038.
Item 2.	Identity and Background
(a)	This Schedule 13D is jointly filed by John C. Lame and Susan K. Lame, Mr. Lame's spouse, in their capacities as co-trustees of the John C. Lame and Susan K. Lame Inheritance Trust u/a dated May 18, 2020 (the "Trust"); the John C. Lame IRA; the John C. Lame Roth Contributory IRA (the "John Lame Roth IRA"); John C. Lame, individually; the Susan K. Lame IRA; and the Susan K. Lame Roth Contributory IRA (the "Susan Lame Roth IRA") (collectively, the "Reporting Persons").
(b)	The address of each Reporting Person for purposes of this filing is: 8805 Tamiami Trail N. #128, Naples, Florida 34108.
(c)	The Reporting Persons are private investors.
(d)	None of the Reporting Persons have, during the past five years, been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors).
(e)	None of the Reporting Persons have, during the past five years, been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting, or mandating activities subject to, federal or state securities laws or a finding of any violation with respect to such laws.
(f)	John C. Lame and Susan K. Lame are citizens of the United States.
Item 3.	Source and Amount of Funds or Other Consideration
	The Trust purchased shares of the Issuer's voting common stock using Trust funds. Shares of the Issuer's voting common stock held directly by the Trust, the John C. Lame IRA, the John Lame Roth IRA, John C. Lame, individually, the Susan K. Lame IRA, and the Susan Lame Roth IRA were acquired directly by these reporting persons. Shares of the Issuer's voting common stock are listed on the Nasdaq Stock Market under the symbol "INBK".
Item 4.	Purpose of Transaction
	The Shares covered by this Schedule 13D were acquired for investment purposes in the ordinary course of business. The Reporting Persons purchased shares based on their belief that the value of the Issuer is in excess of the current market price. The Reporting Persons' investment objective is to profit from appreciation in the market price of the Issuer's voting common stock. Mr. Lame intends to discuss the Issuer's returns for shareholders and the Issuer's strategy for the creation of shareholder value with management, the Issuer's board of directors, and other shareholders of the Issuer. Although the Reporting Persons have no other specific plan or proposal that relates to or would result in any of the actions described in subparagraphs (a) through (j) of Item 4 of Schedule 13D, consistent with their investment purpose, the Reporting Persons at any time and from time to time may acquire additional shares of voting common stock or dispose of any or all of the shares of voting common stock depending upon an ongoing evaluation of the investment in the common stock, prevailing market conditions, other investment opportunities, liquidity requirements of the Reporting Person, and/or other investment considerations.
Item 5.	Interest in Securities of the Issuer
(a)	According to the Issuer's annual report on Form 10-K, filed with the SEC on March 11, 2026, there were 8,686,994 shares of the Issuer's voting common stock outstanding on December 31, 2025.
(b)	According to the Issuer's annual report on Form 10-K, filed with the SEC on March 11, 2026, there were 8,686,994 shares of the Issuer's voting common stock outstanding on December 31, 2025.
(c)	During the past sixty days, each of the John C. Lame and Susan K. Lame Inheritance Trust 5/18/2020, John C. Lame IRA, John C. Lame Roth IRA, Susan K. Lame IRA and Susan Lame Roth IRA purchased shares of the Issuer's voting common stock in the open market as set forth in Schedule A, attached hereto and incorporated herein by reference.
(d)	No person other than the Reporting Persons has the right to receive or the power to direct the receipt of dividends or proceeds of sale of the shares.
(e)	Not applicable.
Item 6.	Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer
	Other than as described herein, there are no contracts, arrangements, understandings or relationships (legal or otherwise) between the Reporting Persons and any person with respect to any securities of the Issuer, including, but not limited to, transfer or voting of any of the securities, finder's fees, joint ventures, loan or option arrangements, puts or calls, guarantees of profits, division of profits or loss, or the giving or withholding of proxies.
Item 7.	Material to be Filed as Exhibits.
	99.1 Joint Filing Agreement among John C. Lame, John C. Lame IRA, John C. Lame Roth IRA, Susan K. Lame IRA, Susan K. Lame Roth Contributory IRA, and John C. Lame and Susan K. Lame as trustees of the John C. Lame and Susan K. Lame Inheritance Trust u/a dated May 18, 2020.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

John C. Lame and Susan K. Lame Inheritance Trust 5/18/2020

Signature:	By: /s/ John C. Lame
Name/Title:	John C. Lame, Co-Trustee
Date:	04/08/2026

Signature:	By: /s/ Susan K. Lame
Name/Title:	Susan K. Lame, Co-Trustee
Date:	04/08/2026

John C. Lame IRA

Signature:	By: /s/ John C. Lame
Name/Title:	John C. Lame
Date:	04/08/2026

John C. Lame

Signature:	By: /s/ John C. Lame
Name/Title:	John C. Lame
Date:	04/08/2026

John C. Lame Roth IRA

Signature:	By: /s/ John C. Lame
Name/Title:	John C. Lame
Date:	04/08/2026

Susan K. Lame IRA

Signature:	By: /s/ Susan K. Lame
Name/Title:	Susan K. Lame
Date:	04/08/2026

Susan K. Lame Roth IRA

Signature:	By: /s/ Susan K. Lame
Name/Title:	Susan K. Lame
Date:	04/08/2026

FAQ

What does the Schedule 13D for First Internet Bancorp (INBK) disclose?

The Schedule 13D discloses that John and Susan Lame, through a trust, IRAs, Roth IRAs, and personal holdings, beneficially own multiple blocks of First Internet Bancorp common stock. They classify themselves as private investors and acquired the shares for investment purposes.

How many First Internet Bancorp (INBK) shares are used as the ownership baseline?

The filing cites 8,686,994 shares of First Internet Bancorp voting common stock outstanding as of December 31, 2025. This figure comes from the company’s Form 10-K filed on March 11, 2026 and is used to calculate each reporting person’s ownership percentage.

What is the largest individual position reported in the First Internet Bancorp (INBK) 13D?

The largest single position disclosed is 149,224 shares of First Internet Bancorp common stock held by the John C. Lame IRA, representing 1.72% of the outstanding class. Other sizable positions include 137,632 shares in the John C. Lame Roth IRA and 107,878 shares in the inheritance trust.

Why did the Lame family entities acquire First Internet Bancorp (INBK) shares?

The reporting persons state they acquired First Internet Bancorp shares for investment in the ordinary course of business. They believe the bank’s value exceeds its current market price and their objective is to profit from future appreciation in the stock’s market value over time.

Do the reporting persons plan to influence First Internet Bancorp (INBK) management?

The filing notes that Mr. Lame intends to discuss shareholder returns and the strategy for creating shareholder value with management, the board, and other shareholders. However, it states they currently have no specific plans for actions like mergers, restructurings, or control changes.

Can the reporting persons change their First Internet Bancorp (INBK) holdings?

Yes. The filing states the reporting persons may acquire additional First Internet Bancorp common shares or dispose of some or all of their holdings. Decisions will depend on ongoing investment evaluation, market conditions, alternative opportunities, and their liquidity needs.